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DEWA gets a BBB from ratings agency

Standard & Poor's Ratings says outlook is 'stable'.

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A DEWA power station.
A DEWA power station.

Standard & Poor's Ratings Services has affirmed its long-term corporate credit rating on Dubai Electricity and Water Authority (DEWA) at 'BBB'. The outlook is stable.

The ratings agency expects continued strong financial performance from DEWA, backed by strong growth in demand for power and water.

The utility also has a ‘credible plan’ to refinance its $1 billion of 2015 debt maturities, according to S&P.

The outlook for DEWA's is strong thanks to Dubai’s recovering economy.

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